Question: Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output Pizza Vesuvio makes specialty pizzas. Data for the past 8 months

Using High-Low to Calculate Predicted Total Variable Cost and Total Cost

Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost Employee Hours January $7,000 430 February $9,899 620 March $8,140 700 April $9,787 680 May $8,490 550 June $7,531 420 July $9,490 640 August $7,450 380 Assume that this information was used to construct the following formula for monthly labor cost. Total Labor Cost = $6629+ ($2.16 x Employee Hours) Required: Assume that 715 employee hours are budgeted for the month of September. Use the total labor cost formula for the following calculations: 1. Calculate total variable labor cost for September. Round your answer to nearest whole number. 2. Calculate total labor cost for September. Round your answer to nearest whole number

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